Roughly four in five bank customers say they are aware of buy-now-pay-later services, with a third saying they have used a BNPL service within the past 90 days, according to a new survey by J.D. Power.
The CFPB has expanded its expertise in data science and analytics to identify fair lending violations as technologies such as artificial intelligence are more widely used in financial products, the agency said in its annual fair lending report to Congress.
In today’s environment of elevated interest rates and a tech sector market correction, how is the banking-as-a-service landscape shaking out?
Banks can use low-code no-code tools to drive innovation and customize and automate workflows even if they don’t have staff with highly technical coding experience.
Some bankers would rather get a root canal than do a core conversion. Here’s why others are finding the conversion option attractive.
Payment app providers could take several steps to better protect servicemembers and their families from fraud, including new investments in anti-fraud measures and improving their responsiveness when an incident occurs, the CFPB said.
The Bank for International Settlements released a special chapter of its upcoming Annual Economic Report 2023 that lays out a “blueprint” for a future monetary system underpinned by central bank digital currency.
Any CFPB activity on data brokers should target unregulated entities and not upset the existing regulatory framework for financial institutions, ABA said in a letter to the agency.
As regulators develop policy for artificial intelligence, they should adopt an industry-focused approach in order to minimize the effects to businesses that already have a history of complying with laws and regulations related to the technology, ABA said in comments to the National Telecommunications and Information Administration.